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Search Results 0 to 17 of about 18 (some duplicates have been removed)
in 1986 but are staring us in the face today. first, a much larger and much more dangerous deficit and second, a dramatic increase been income and inequality. old-style tax reform could make both conditions worse. but don't dismiss the old framework lightly. credit for the 1986 reform law belongs to democrats like bill bradley in the senate. just as much as to president reagan. as a member of the house back then, i not only voted for it, but i whipped the votes to make sure it passed. i was on the committee set up by dan rostenkowski to get it done. the approach made a good deal of sense at the time. then, as now, the code was littered with egregious loopholes that needed to be reformed. recall the so-called passive law schools that were in place back then. they allowed wealthy taxpayers to gain the system. someone could invest in a bowling alley and then, if the bowling alley lost money, they could take a write off many times larger than their initial money incestment of their entire income tax liability. we need to get rid of such a gimmicky tax shelter. paring these loopholes al
, the problem of running deficits and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congresses/ what does it take to get elected officials to tackle at an issue, increasing their taxes? >> let's start with the families. they will get their attention. the voters have to understand all this, which they did not, and voters need to understand what we have to do to get all this corrected, and they do not. if we ever get that over to the voters, they will vote for the people who are geared up, ready, and know how to do it and are running on that basis, and then we can change this country forever and get us back to where we used to be when i was a boy in the depression. why schoolteachers and would have been docto
would call these gimmicks, the full ten year cost of this bill has of $460 billion deficit. the second has a one half trillion dollar deficit. probably the most cynical gimmick in this bill is something that we all probably agree on. we don't think we should cut doctors' 21% next year. we stop those cuts from occurring every year for the last seven years. we all call this the toxics. well, according to your numbers it cost her her $71 billion. it was in the first iteration of all these bills. because it was a big price tag and made the score look bad, may look like a deficit, that provision was taken out and has been going on in stand-alone legislation. ignoring these costs does not remove them from the backs of taxpayers. hiding spending does not reduce spending. and so when you take a look of this is just as not add up. let's finish with the cost curve. we bending the cost curve down or up? well, if you look at your own chief actuary of medicare revenue up. he is time we are going up $222 billion, adding more to the unsustainable fiscal situation we have. and so when you take a look
for the economy. another important element is a private set her deficit. wow, another important reform has been to put into the constitution, a financial stability law, that means that the government is going to be more able to meet their objectives and to put a degree on the expand says and the deficit of the regional suspense, which is part of the issue because the expenditures from the central government, another part of the government in which you have tools in order to make them comply with your objectives. at the government has proper tools. and in the process of the fiscal situation as we see in this chart, we have a totally out-of-control deficits in the year 2009 with a deficit exceeding 11% of the gdp and now we are to reducing the step thursday of the very important issue and what the markets wonder if the capacity of the government to get to the 6.3%. there is a degree in the market and the capacity, but the government is confident that she can get this figure and i think it would be a very important message for the market. if it's able to comply with the objective of direction and
to get the jobs they want. get this deficit and debt under control. make trade work for america so we can make more things in america and sell them overseas and champion small businesses. don't raise taxes on small businesses because they're our job creators. he talks about detroit. mitt romney is a car guy. they keep misquoting him. but let me tell you about the mitt romney i know. this is a guy who i was talking to a family in northborough, massachusetts, the other day. cheryl and mark nixon. their kids were hit in a car crash. four of them. two of them were paralyzed. the romneys didn't know them. they went to the same church. mitt asked if they could come over on christmas. he brought his boys, his wife and gifts. later on he said i know you're struggling, mark. don't worry about their college, i'll pay for it. when mark told me this story, because you know what, mitt romney doesn't tell these stories. the nixons told this story. he said it wasn't the help, the cash help, it's that he gave his time and he has consistently. this is a man who gave 30% of his income to charity, more than
? >> i will -- the candidates how they will reconcile reducing the deficit, cut spending and still -- [inaudible] >> what are you doing to prevent trafficking and to stop it altogether? >> all day like event tomorrow on c-span2 to tell you about. the center for strategic and international studies looks at political transitions in north africa. this starts at 8:30 a.m. eastern. >> we are live at centre college in danville kentucky for the 2012 vice presidential debate between vice presidential bike and congressman paul ryan. the moderator, martha raddatz is almost ready to begin after giving the audience instructions to remain quiet during the debate. we are waiting for her to introduce the candidates announced the opening question. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] .. [inaudible conversations] [background sounds] [background sounds] [background sounds] [inaudible conversations] [background sounds] [inaudible conversations] [background sounds] [inaudible conversa
're facing absolutely massive deficits. this administration has chosen to ignore it. the president has failed, put forth a plan to deal with those deficits and if everyone believes everything is coming up roses, perhaps the vice- president should join me as i travel around the country and speak to people. people in pennsylvania are not terribly thrilled with what happening in the economy. people in youngstown, ohio have stores that are boarded up because the economy is not doing well. it's not only the old industries that are not -- in san jose, calif., they are complaining because they cannot export their high-quality goods to japan and other countries. people in the northwest and in the state of oregon are complaining about what's happening to the timber industry and agriculture industry. things are not as great as the administration is wanting us to believe in their television commercials. my feeling quite frankly is i have enough experience to see the problems, address them, and make the tough decision that level of people with reference to this problem. >> despite the historic aspects of
campaign stop in new hampshire was talking about the threat of deficit spending. it's probably something you might hear tonight at the vice- presidential debate. here's a preview. [video clip] >> we cannot keep borrowing 36 cents of every dollar our government spends. we cannot keep the federal reserve doing what. we cannot keep looking our children in the eye, knowing that we are going to give them a diminished future because we are spending their money today. it's a very simple idea. mitt romney and i will bring it to washington. we've got to stop spending money we don't have. we must cut spending. we must get this balanced budget. we must get this debt under control. this debt not only hurts our economy today with the threat of higher interest rates and a losing a dollar and much higher tax rates. we know that we are giving the students here at this academy, our children and grandchildren, a lower standard of living. we've never done that in this country before. host: vice-presidential candidate paul ryan in new hampshire at a recent event. here's what you might hear from the vice-pre
and creating jobs. >> your also worried about the deficit. clearly america has large and ever-growing deficits. the proposed a tax cut. that is defecit spending. >> this is a two-step deal. everybody knows we need the big deal. we talk about that and 30 seconds. we're not going to get to the big deal by jumping off the bridge. what we're saying is that it is not the right thing to do to have the largest tax increase in the history of america and to have up $1.20 trillion worth of spending cuts that do not even look at medicare and medicaid across the board without thinking through what is the deal is going to be. anybody from either party should come to a realization that the big deal counts. all we need to do is get a small part of an extension. when you talk about these taxes and spending, it cannot be done by 10 people in the back room. it has to be done in normal order. they are the only people that understand what you're in those bills. >> to and if you really think we're going to jump off a fiscal cliff? >> i think it is at least that the tax cut scheduled to expire to expire. maybe slig
-a-trillion-dollar deficit annually. when george bush came into office, our debt, national debt was around $5 trillion. it's now over $10 trillion. we've almost doubled it. and so while it's true that nobody's completely innocent here, we have had over the last eight years the biggest increases in deficit spending and national debt in our history. and senator mccain voted for four out of five of those george bush budgets. so here's what i would do. i'm going to spend some money on the key issues that we've got to work on. you know, you may have seen your health care premiums go up. we've got to reform health care to help you and your budget. we are going to have to deal with energy because we can't keep on borrowing from the chinese and sending money to saudi arabia. we are mortgaging our children's future. we've got to have a different energy plan. we've got to invest in college affordability. so we're going to have to make some investments, but we've also got to make spending cuts. and what i've proposed, you'll hear senator mccain say well, he's proposing a whole bunch of new spending, but actually i'm
, or the 49ers, are reacting to the same thing, they're both out of control. we have a deficit that is going to kill us. they're not minding the store. now, we come at it from two other spectrums, but they're the same issues, basically the same issues they're focused on. and when the tea party first came in. and i was at a rally down in arizona with a candidate on the first tax day, first april 15th after the tea party was founded. and there were people who were democrats, there were republicans, there were independents who were there rallying on the street. but when they got into the office, they started to morph over to the social issues, so as they have done that, i think the basic premise for the party is very right, frankly. we have got to get serious about these issues. >> president reagan said famously he didn't leave the democratic party, the democratic party left him. do you feel that members of the gop feel that way? do you feel that way? >> oh, i know people feel that way. and i'm certainly verging on that. the party that i saw at the convention when you looked at the clips that -
the deficit to pay for it. if we can't trust him here... how could we ever trust him here? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. zoirchgs a space rocket blasted off from cape canaveral last night launching the fist private flight from the international space station. >> liftoff of the space x falcon 9 rocket. launching dragon to the international space station and returning cargo -- >> the unmanned capsule called dragon is on its way to the space station after separating from its rocket. it's carrying 1 240us pounds of cargo. the company has been contracted by nasa to fly a dozen flights to resupply the space station. >>> fearless felix, he is also known as felix baumgartner, and he has gotten to be pretty fearless. he actually is going to jump out of a balloon. this is 23 miles above the earth. this is exactly what he plans to do. the idea is to set a world record for a freefall. he has already tried it from a lower altitude. brian todd is live in roswell, new mexico. wow. that's pretty cool. he was supposed to
to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> less than a month away now before election day. and how can we forget political ads, they remind us each and evy hour on the hour what is happening now. with barack obama and mitt romney had to spend hundreds of millions of dollars to define themselves for us while, of course, vilifying the other. that's why when i draw your attention to this documentary, that airs tomorrow night, on pbs, it is from the folks who bring us front line. here is just a preview. >> i got my start as a community organizer. >> i know how the private sector works. i know how jobs come. i know how they go. >> for years, these two men have been telling us their stories. >> he keeps a lot of his views to himself. >> he knows that every step he takes is a potential land mine. >> people have great respect for obama and will still say this is most insular administration in their lifetime. >> this october, front line looks for meaning in the lives, choices an
Search Results 0 to 17 of about 18 (some duplicates have been removed)